Trulieve Cannabis (NYSE:TRLV) Releases Earnings Results, Beats Estimates By $0.05 EPS

Trulieve Cannabis (NYSE:TRLV) issued its quarterly earnings results on Friday. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05, Zacks reports.

Here are the key takeaways from Trulieve Cannabis’ conference call:

• Core profitability and cash flow remained strong: Medical-only revenue rose 4% sequentially to $222 million, with a 63% gross margin and $98 million of adjusted EBITDA at a 36% margin. Operating cash flow was $53 million, while quarter-end cash totaled $325 million versus $289 million of debt.
• Georgia is emerging as a significant growth driver: Expanded qualifying conditions and product formats drove a sharp increase in traffic, while patient enrollment surpassed 45,000. Trulieve is expanding cultivation, adding dispensaries, and supplying nearly 20 independent pharmacies, although temporary flower shortages constrained sales.
• Texas offers substantial expansion potential: Trulieve is converting its conditional license to final approval and has completed initial production construction. Management sees considerable upside as the program expands beyond 157,000 patients, with plans to scale production and retail locations alongside demand.
• Reported results and full-year cash-flow guidance were affected by the Harvest deconsolidation: The company posted a $406 million GAAP net loss, including a $407 million impact from the transaction, although adjusted results would have shown $20 million of net income. Full-year operating cash-flow guidance was reduced to at least $225 million, while capital-expenditure guidance increased to $95 million as Trulieve invests in growth.

Trulieve Cannabis Stock Down 2.7%

TRLV stock traded down $0.24 during mid-day trading on Friday, hitting $8.76. The stock had a trading volume of 1,039,210 shares, compared to its average volume of 811,495. Trulieve Cannabis has a 1-year low of $4.62 and a 1-year high of $13.28.

Insider Activity at Trulieve Cannabis

In related news, CEO Kim A. Rivers sold 136,811 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $8.76, for a total value of $1,198,464.36. Following the transaction, the chief executive officer owned 1,476,913 shares in the company, valued at approximately $12,937,757.88. This represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,699,007 shares of company stock valued at $14,661,355. Insiders own 3.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TRLV shares. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price objective on shares of Trulieve Cannabis in a research report on Friday. Zacks Research upgraded Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings initiated coverage on shares of Trulieve Cannabis in a research report on Tuesday, June 16th. They issued a “sell (d-)” rating for the company. Finally, Wall Street Zen downgraded shares of Trulieve Cannabis from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trulieve Cannabis currently has an average rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.